Brokerages expect Bloom Energy Corp (NYSE:BE) to report $233.47 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Bloom Energy’s earnings, with estimates ranging from $230.30 million to $240.22 million. Bloom Energy posted sales of $190.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.8%. The business is expected to announce its next earnings results on Monday, November 4th.
According to Zacks, analysts expect that Bloom Energy will report full year sales of $919.83 million for the current fiscal year, with estimates ranging from $884.44 million to $968.02 million. For the next year, analysts forecast that the firm will report sales of $969.33 million, with estimates ranging from $847.18 million to $1.17 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Bloom Energy.
Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.59). The company had revenue of $233.80 million for the quarter, compared to analyst estimates of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 387.28%. The firm’s quarterly revenue was up 38.4% compared to the same quarter last year.
BE has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Bloom Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. ValuEngine upgraded shares of Bloom Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on shares of Bloom Energy from $33.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Finally, KeyCorp restated an “overweight” rating and issued a $15.00 price target (down from $27.00) on shares of Bloom Energy in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Bloom Energy currently has a consensus rating of “Buy” and a consensus target price of $16.45.
In other news, COO Susan Seilheimer Brennan sold 11,471 shares of Bloom Energy stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $10.72, for a total transaction of $122,969.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Randy W. Furr sold 46,675 shares of Bloom Energy stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total transaction of $520,893.00. The disclosure for this sale can be found here. 36.45% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its holdings in Bloom Energy by 25,000.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock valued at $49,000 after purchasing an additional 4,000 shares during the last quarter. Barclays PLC lifted its holdings in Bloom Energy by 4,865.0% during the 4th quarter. Barclays PLC now owns 4,965 shares of the company’s stock valued at $50,000 after purchasing an additional 4,865 shares during the last quarter. Synovus Financial Corp bought a new position in Bloom Energy during the 2nd quarter valued at about $65,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bloom Energy during the 2nd quarter valued at about $67,000. Finally, Elgethun Capital Management bought a new position in Bloom Energy during the 1st quarter valued at about $137,000. Institutional investors and hedge funds own 33.58% of the company’s stock.
NYSE BE traded up $0.04 during midday trading on Thursday, hitting $4.95. The company had a trading volume of 3,803,074 shares, compared to its average volume of 1,407,582. The company has a quick ratio of 1.89, a current ratio of 2.32 and a debt-to-equity ratio of 10.34. The stock has a market cap of $908.51 million and a price-to-earnings ratio of -2.04. The firm has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $11.93. Bloom Energy has a fifty-two week low of $4.41 and a fifty-two week high of $38.00.
Bloom Energy Company Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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